UPDATE 10:32 pm: Before the Blazers game against the Jazz Thursday night, Roy spoke with reporters. Below are some of his quotes, via the amazing Ben Golliver of Blazers Edge:

“Right now there’s no timetable. It’s just until we can find a solution for this problem.”

“(Sitting out the season is) a possibility. That is a possibility. But don’t even want to go that far to say that.”

“After sitting out these last two weeks, the knee hasn’t really improved to where I think I can go out there and be much better than I was that last game. That led to this decision.”

“Yes, (surgery is) a possibility.”

“Right now, I don’t know (about what option for treatment may be chosen). We’ve explored a number of them. We’ll continue to look for them. We’ll just look for everything. It may be something that comes up we haven’t heard of, surgery, those are all things we’ll be looking for.”

Roy would not detail all the options being considered but the fact that he has not ruled out surgery and hinted at some other potentially experimental procedures makes one really question if he is coming back this season.

8:47 pm: The Trail Blazers decided to leave the window open for a possible return this season, but Brandon Roy is going to be out for a long while.

“Unfortunately, Brandon Roy’s condition has not significantly improved and we’ve decided to hold him out indefinitely. In the short term, we’re going to proceed with an extended period of rest. Beyond that, we’re looking at all available treatment options to help better determine a course of action,” said Blazers GM Rich Cho in a statement released by the team.

Roy — a three-time All-Star — has missed the last six games and been in-and-out of the Blazers lineup this season due to knee problems. Those knee issues also have led to a drop in production this season (for example, his shooting percentage has fallen to 39.9 percent from 47.3 percent last season). There is no simple surgical option because he has basically worn away the meniscus tissue – or cartilage — in his knees, which are bone on bone.

There has been speculation that Roy would shut it down for the rest of the season. However, he is a fierce competitor who has raced back from injury before to help his team in key games (such as last year’s playoffs). Right now the Blazers are 16-16 and would be the eighth seed in the West. If late in the season the Blazers are still in the same boat, it would not be a surprise to see Roy come back.

However, more rest would probably be better. The problem is there seems to be limited good long-term treatment options. Roy is likely to have chronic knee issues for the rest of his career (and beyond).